Bitcoin has broken a crucial 14-year support level, prompting crypto analyst Phila to predict a potential decline to $55,000. This development follows Bitcoin's fall below the psychological $80,000 mark, raising concerns of further losses. Phila, who accurately predicted previous market bottoms and tops, emphasized that this is not a mere correction but a significant capitulation. In a series of posts, Phila compared the current price action to 2021, suggesting that the market is in a relief rally phase similar to past cycles. He warned that despite beliefs that the February 2026 low of $60,000 was the bottom, Bitcoin could still drop to $50,000. Meanwhile, analyst Ali Martinez identified $77,800 as a critical level for Bitcoin, noting that a failure to break above this could lead to a retracement. Currently, Bitcoin is trading around $77,500, according to CoinMarketCap.